Election time brings excitement, frustration, concern, and hope for change, true hope, and not just a slogan that we are accustomed to hearing recently.
However, it is often presented with ideas for change to the tax code and ways that each candidate can improve the country. As we have mentioned before in this blog, the financial system for the country, and for your personal finances for that matter, is pretty simple. There are two columns, dollars in and dollars out, if you want to spend more, then increase your inflow.
House Speaker Newt Gingrich is looking to make a splash with the Republican’s presidential nomination. Gingrich has created The 21st Century Contract with America and has some bold moves as we move into election year 2012.
Some of his options include giving taxpayers the option of paying a flat tax and allowing the younger population to opt out of Social Security.
Gingrich’s other ideas include boosting domestic energy production, easing regulations on businesses and bolstering medical research to combat diseases like Alzheimer’s. Energy production to me is a simple change.
Maybe some of our readers, you energy geeks, can explain why we wouldn’t consider domestic energy. Oil is one of our largest outflows and if we have the ability to get it here or cheaper, why wouldn’t we do it?
Regulations on businesses also seem to be another must make move. I’m not talking about not taxing the business community, but offer them incentives to create jobs, invest in the future, and build.
I’m also convinced, that the readers of this blog have the answer to our struggling economy, email me your top three improvements!
Disclaimer: Every effort has been taken to provide the most accurate and honest analysis of the tax information provided in this blog. Please use your discretion before making any decisions based on the information provided. This blog is not intended to be a substitute for seeking professional tax advice based on your individual needs.